INCOME TAXES |
9 Months Ended |
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Jun. 26, 2026 | |
| Income Tax Disclosure [Abstract] | |
| INCOME TAXES | 8. INCOME TAXES On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted into law. The OBBBA contains corporate tax law changes, including the restoration of 100% bonus depreciation; the creation of Section 174A, which reinstates expensing for domestic research and experimental expenditures; modifications to Section 163(j) interest limitations; updates to the rules for global intangibles low-taxed income and foreign-derived intangible income; amendments to the rules for energy credits; and the expansion of Section 162(m) aggregation requirements. The Company is currently evaluating this legislation and determining what impact it would have to the Company’s financial statements. For the three months ended June 26, 2026 and June 27, 2025, the Company’s effective tax rate attributable to income before income taxes was 113.4% and 22.0%, respectively. For the three months ended June 26, 2026 and June 27, 2025, the Company had income tax benefits of $6,304 and income tax expense of $12,128, respectively. The increase in the current period effective tax rate was driven by the discrete impact of the PVC litigation settlement recorded in the third quarter of fiscal 2026. For the nine months ended June 26, 2026 and June 27, 2025, the Company’s effective tax rate attributable to income before income taxes was 27.2% and 16.8%, respectively. For the nine months ended June 26, 2026 and June 27, 2025, the Company had income tax benefits of $40,496 and income tax expense of $7,935, respectively. The increase in the current period effective tax rate was driven by the discrete impact of the PVC litigation settlement recorded in the current year. See Note 16, “Commitments and Contingencies” for further details regarding the PVC litigation settlement. A valuation allowance has been recorded against certain net operating losses in certain foreign jurisdictions. A valuation allowance is recorded when it is determined to be more likely than not that these assets will not be fully realized in the foreseeable future. The realization of deferred tax assets is dependent upon whether the Company can generate future taxable income in the appropriate character and jurisdiction to utilize the assets. The amount of the deferred tax assets considered realizable is subject to adjustment in future periods.
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